i


SEPTEMBER 2020

TABLE OF CONTENTS


August

September

Month-on-
Month Change
(%)
Reserve Money (M0) (ZW$ millions)
12,383.05
12,732.32

2.82

Money Supply2 (M3) (ZW$ millions)
146,147.58
153,835.54

5.3

Annual Inflation1 (%)
761.02
659.40
-101.62a

Blended Annual Inflation1 (%)
420.9
376.3
-44.6a
Monthly Inflation1 (%)
8.44
3.83
-4.61a

Blended Monthly Inflation1 (%)
1.41
-0.47
-1.88a
National Payment System Transactions2
(ZW$ billions)
227.51
299.09
7.61
Nominal Lending Rate2
(% per annum)
6.00-65.00
6.00-65.00

Sources:
1. Zimbabwe National Statistics Agency.
2. Reserve Bank of Zimbabwe.
a- Percentage point.
SELECTED ECONOMIC INDICATORS

INTERNATIONAL COMMODITY PRICE
DEVELOPMENTS


The international prices for some selected
precious metals and Brent crude oil declined, on
a month-on-month basis, in September 2020.
Base metal prices, however, registered monthly
increases during the same period. Monetary,
fiscal and real economic conditions, in the midst
of the coronavirus (COVID-19) pandemic,
continued to play a pivotal role in commodity
price developments.


Precious Metals
Gold
The international price of gold slipped by 2.4%,
month-on-month, from US$1,969.14 per ounce
recorded in August 2020 to US$1,922.85 per
ounce, during the month under review. The
average price of gold retreated on stronger
economic activity, amid easing coronavirus
pandemic–induced restrictions. Prices were also
weighed down by a stronger US dollar, which
made gold more expensive for holders of other
currencies and also increased the appeal of the
greenback as a safe haven asset.

Platinum
Similarly, platinum prices eased as investment
demand for the metal contracted in September
2020. Prices fell by 3.1%, from a monthly
average of US$937.69 per ounce in August
2020, to US$908.66 per ounce in September
2020. The outlook for platinum prices is,
however, positive as the global demand for the
precious metal is forecast to outstrip supply.
In addition, expectations that platinum will
feature prominently in a post-COVID global
green recovery is likely to support prices going
forward.
Figure 1 shows developments in precious metal
prices for the period from September 2019 to
September 2020.

Figure 1: Precious metal prices (US$/oz.)
Source: Bloomberg, 2020

Base Metals

Copper
Copper prices were upbeat during the month
under review, on the back of increased
economic activity, robust industrial demand and
tight supply-side conditions. The gains in prices
were, however, limited by the rising geopolitical tension between the US and China.
Against this backdrop, the price of copper
increased by 3.1%, on the August 2020 price, to
US$6,712.41 per tonne in September 2020,
supported by stimulus-led demand for the red
metal. COVID-19 induced mining disruptions
in key source markets, namely; Chile and Peru,
also supported prices from the supply-side.

Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
US$/oz.
Gold
Platinum

Nickel
Nickel prices gained by 2.1%, from a monthly
average of US$14,533.86 per tonne in August
2020 to US$14,866.27 per tonne, during the
month of September 2020. The ban on
Indonesian nickel exports continued to support
prices on the supply-side. Furthermore, strong
demand for the metal, particularly from the
electric battery manufacturers, coupled with
greater economic optimism, rendered support to
nickel prices.
Figure 2: Base metal prices (US$/ton)
Source: Bloomberg, 2020

Brent Crude Oil
The international price of Brent crude oil
slumped by 6.8%, from US$44.98 per barrel in
August 2020 to US$41.92 per barrel in
September 2020. Prices were largely weighed
down by a weaker demand outlook, amid fears
of a resurgence in coronavirus infections already
witnessed in some major countries. The
situation was further compounded by the
possibility of renewed Libyan oil exports, which
could contribute to the flooding of the market.

1 The sum of exports and imports
This, notwithstanding, the Organisation of
Petroleum Exporting Countries (OPEC) further
asserted its commitment to restoring stability in
the market, as price volatility is still expected to
persist on the back of the global health
pandemic.
Figure 3 shows developments in Brent crude oil
prices for the period from September 2019 to
September 2020.
Figure 3: International crude oil prices
(US$/barrel)

Source: Bloomberg, 2020

MERCHANDISE TRADE
DEVELOPMENTS

The country’s merchandise trade1 stood at
US$840.2 million for the month of September
2020. This was 5.8% higher than the US$794.2
million recorded in the preceding month. The
increase in total merchandise trade was driven
by increases in both merchandise exports and
imports, as COVID-19 induced restrictions
were eased for most sectors of the economy.


Sep-19
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nickel US$/ton
Copper US$/ton
Copper
Nickel (RHS)

Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
US$/barrel

Merchandise Exports
The country’s merchandise exports rose by
2.4%, from US$389.3 million in August to
US$398.8 million in September 2020. The
September 2020 outturn was 5.4% higher,
compared to the corresponding month in 2019.
The recovery in commodity prices from the
coronavirus pandemic spurred the country’s
export earnings. Figure 4 shows developments
in the country’s merchandise exports for the
periods January to September 2019 and 2020.
Figure 4: Merchandise Exports (US$ m)

Source: ZIMSTAT, 2020

The rise in monthly merchandise exports in
September 2020 was largely attributed to
increases in exports of nickel ores and
concentrates, tobacco and platinum. In recent
months, nickel has been performing well on
account of firming global prices, amid high
demand. Gold exports were, however, 19.9%
lower in September 2020, compared to the
previous month. Exports for the month under
review were dominated by nickel ores &
concentrates (23.7%); nickel mattes (20.7%);

2 Nickel ores and concentrates, nickel matters and
unwrought platinum are components of the platinum
group of metals (PGMs).
gold (17.4%); tobacco (10.7%); and platinum
(5.5%), as shown in Table 1.
Table 1: Exports Classified by Harmonised
Commodity Description and Code System
Commodity

Aug-20
Sept-

Share
of
Total
(%)
Total Exports
389.3
398.8
100.0
Of Which:


Nickel ores and
concentrates2
67.2
94.5
23.7
Nickel mattes
100.9
82.7
20.7
Gold
86.5
69.3
17.4
Tobacco


(Including
fluecured, stemmed &
cigarettes)
35.7
42.7
10.7
Industrial
diamonds
10.1
13.8
3.4
Ferro-chromium
10.3
12.5
3.1
Cane sugar
5.2
8.0
2.0
Ginned cotton
2.1
6.3
1.6
Chromium
ores
and concentrates
4.0
5.4
1.4
Source: ZIMSTAT & RBZ Calculations, 2020

The bulk of the country’s exports went to South
Africa, accounting for about 39.7%, followed by
Mozambique (11.3%) and the United Arab
Emirates (9.6%). Figure 5 shows the country’s
major export markets, during the month of
September 2020.


Jan Feb Mar Apr May June July Aug Sep

Figure 5: Top Ten Merchandise Export
Destinations (% Share)

Source: ZIMSTAT & RBZ Calculations, 2020
Merchandise Imports
Imports of goods rose by 9.0%, from US$404.9
million in August to US$441.4 million in
September 2020. Similar to exports, the imports
for September 2020 were higher than in the
comparable month in 2019. Figure 6 shows the
country’s imports for 2019 and 2020.


Figure 6: Merchandise Imports classified by
HS Codes 2019 & 2020 (US$ m)

Source: ZIMSTAT & RBZ Computations, 2020
The increase in imports during the month of
September 2020 was underpinned by increases
in diesel (59.2%) and maize (58.9%). Maize
imports increased as the country intensified
efforts to reduce the food deficit caused by the
El-Nino induced drought in the 2019/2020
cropping season. Table 2 shows imports of
major commodities for the months of August
and September 2020.


South Africa
Mozambique
United Arab Emirates
Uganda
Belgium
Kenya
Botswana
Zambia
Hong Kong
Malaysia


Table 2: Imports Classified by Harmonised
Commodity Description and Code
System
Commodity
Aug 20
US$ m
Sept 20
US$ m
Share
of
Total
Imports
(%)
Total Imports
404.9
441.4
100.0
Of Which:


Diesel
9.6
15.3
3.5
Chemicals
20.7
14.0
3.2
Maize (Excluding
Seed)
8.7
13.9
3.1
Crude soya bean
oil
13.8
12.4
2.8
Machinery
5.7
12.3
2.8
Rice
11.6
12.1
2.7
Iron (Structures &
parts of iron/ steel)
1.0
11.9
2.7
Electricity
13.3
9.3
2.1
Wheat
9.1
7.7
1.7
Road tractors
7.0
6.4
1.4
Source: ZIMSTAT & RBZ Calculations, 2020
The country imported goods mainly from South
Africa (50.0%); China (12.3%); Singapore
(3.9%); and Mozambique (3.5%), as shown in
Figure 7.


3 Data released by ZIMSTAT in August 2020 had
reflected a positive net outturn of $3.9 million. Revised

Figure 7: Top Ten Merchandise Import
Sources (% Share)

Source: ZIMSTAT & RBZ Calculations, 2020
Merchandise Trade Balance
The
aforementioned
merchandise
trade
developments resulted in the widening of the
country’s trade deficit, from US$15.6 million in
August 20203 to a deficit of US$42.6 million in
September 2020.
Figure 8 shows the country’s trade balance for
the period from July 2019 to September 2020.


data released in September, however, shows a deficit of
US$15.6 million for August 2020.

South Africa
China
Singapore
Mozambique
Zambia
United Arab Emirates
India
Mauritius
United Kingdom
Belarus

Figure 8: Merchandise Trade Balance
(US$ m)

Source: ZIMSTAT & RBZ Computations, 2020
MONETARY DEVELOPMENTS4

Broad money stood at ZW$153.84 billion as at
end September 2020, compared to ZW$146.15
billion recorded in August 2020. The money
stock (M3) consisted of foreign currency
account
(FCA)
deposits,
equivalent
to
ZW$92.11 billion (59.93%), while local
currency transferrable deposits amounted to
ZW$52.57 billion (34.17%), time deposits,
ZW$6.94 billion (4.51%) negotiable certificates
of deposits, ZW$1.08 billion (0.70%) and
currency in circulation, ZW$1.06 billion
(0.69%).

4All monetary numbers valued in ZW$ since the adoption
of an interbank market determined exchange rate in
February 2019.
Over the year to September 2020, the foreign
currency component of total deposits increased
from ZW$9.86 billion in September 2019 to
ZW$92.19 billion. The growth largely reflected
valuation changes due to exchange rate
movement, from ZW$15.20 per US$1 in
September 2019 to ZW$81.44 per US$1 in
September 2020.
Local currency deposits registered a year-onyear growth of 366.02%, while currency in
circulation also increased by 53.18%.
Figure 9: Composition of Money Supply

Source: Reserve Bank of Zimbabwe, 2020

Growth in broad money reflected annual
increases in credit to the private sector,
614.97%;
credit
to
public
non-financial
corporations, 357.70%; and credit to other
financial corporations, 120.94%.
Partially
offsetting the increases, was a decline of 29.83%
in net credit to Government. The decline in net
credit to Government largely reflected fiscal

Jul-19
Sep-19
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Exports
Imports
Trade Balance
Local
Currency
Transferable
deposits
34.17%
Foreign
Currency
Deposits
59.93%
Time
Deposits
4.51%
Currency in
Circulation
0.69%
NCDs
0.70%

consolidation
measures
implemented
by
Government, in line with the Transitional
Stabilisation Plan (TSP).
On a month-on-month basis, credit to the private
sector increased by 5.39% to ZW$49.16 billion;
while net credit to Government declined by
23.23% to ZW$9.17 billion, during the month
under review.
Credit to the private sector was mainly extended
towards agriculture, 27.38%; manufacturing,
18.59%; households, 17.00%; distribution,
10.68%; and mining, 10.68%; as shown in
Figure 10.
Figure 10: Distribution of Private Sector
Credit

Source: Reserve Bank of Zimbabwe, 2020

Credit to the private sector was channelled
towards inventory build-up, 44.36%; other
recurrent expenditures, 22.07%; and fixed
capital investment, 17.04%, among other
purposes.


STOCK MARKET DEVELOPMENTS

During the month of September 2020, the
Zimbabwe Stock Exchange (ZSE) recovered
from the previous month’s losses. All the major
indices registered gains.

The All Share, Top 10, industrial and mining
indices surged by 17.92%, 19.63%, 18.79% and
11.31% to close at 1 638.17 points, 1 093.10
points, 5 385.73 points and 4 128.52 points,
respectively.

Figure 11: Zimbabwe Stock Exchange All
Share and Top 10 Indices
Source: Zimbabwe Stock Exchange, 2020

On an annual basis, the All Share, Top 10,
industrial and mining indices increased by
604.53%, 401.22%, 595.34% and 1 199.30%,
from 232.52 points, 218.09 points, 774.55
points and 317.75 points recorded in September
2019, respectively.


Households
11.77%
Agriculture
21.74%
Mining
12.57%
Manufacturing
14.96%
Distribution
12.17%
Construction
0.60%
Transport &
Communicati
ons
1.42%
Services
6.90%
Financial Org.
& Investments
17.75%
Other

30-Sep-19
31-Oct-19
30-Nov-19
31-Dec-19
31-Jan-20
29-Feb-20
31-Mar-20
30-Apr-20
31-May-20
30-Jun-20
31-Jul-20
31-Aug-20
30-Sep-20
Top 10 Index
All Share Index
All Share Index
Top 10 Index

Figure 12: Zimbabwe Stock Exchange
Indices
Source: Zimbabwe Stock Exchange, 2020
As a result of bullish sentiments that
characterized the local bourse during the month
of September 2020, the volume and value of
shares traded increased by 564.46% and
351.99% to 1.09 billion shares and Z$4.64
billion, respectively.

Figure 13: ZSE Monthly Volumes and Values
Traded

Source: Zimbabwe Stock Exchange, 2020
The local bourse gained Z$30.82 billion, or
17.55% worth of capitalization, from Z$175.68
billion in August 2020 to Z$206.50 billion in
September 2020. On a year-on-year basis, the
local
bourse
capitalization
increased
by
576.45%, from Z$30.53 billion recorded in
September 2019.

INFLATION OUTTURN

Annual Inflation

Headline inflation decelerated further to
659.40% in September 2020, from the previous
month’s rate of 761.02%.
The deceleration of annual inflation in
September 2020 was in line with the stability on
the foreign exchange market, brought about by
the auction system, which improved official
access to foreign currency by importers.
Albeit
falling
significantly,
inflation
in
September 2020 was driven by price increases
for both food and non- food items.
Annual
food
inflation
decelerated
from
865.48% in August 2020, to 724.40% in
September 2020. The key food categories,
namely; vegetables; bread and cereals; and
meat, continued to have the highest contribution
to food inflation in September 2020.
In tandem, annual non-food inflation also
slowed down from 698.90% in August 2020 to
619.78% in September 2020. Increases in
housing, water, electricity, gas and other fuels;
miscellaneous
goods
and
services;
communication and transport were largely
attributable to annual non-food inflation.

31-Aug-19
31-Oct-19
31-Dec-19
29-Feb-20
30-Apr-20
30-Jun-20
31-Aug-20
Mining Index Points
Industrial Inedx Points
Industrial
Mining


1,000
1,200
Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Values Traded (ZW$ millions)
Volumes Traded (milions)
Volume
Turnover

The annual Blended CPI inflation5 fell to
376.3% in September 2020, from 420.9% in
August 2020.The fall was attributed to price
declines
for
most
categories,
except
communication, restaurants and hotels and
housing, water, electricity, gas and other fuels,
whose inflation accelerated.

Monthly Inflation

Month-on-month, the ZW$ inflation rate further
decelerated to 3.83% in September 2020, from
8.44% in August 2020 and 35.53% in July 2020.
This followed the deceleration in both food and
non-food inflation.
Monthly food inflation slowed down to 2.08%
in September 2020, from 6.30% in August.
Vegetables and bread and cereals continued to
have the largest contributions to month-on
month inflation.
Similarly, monthly non-food inflation eased
from 10.03% in August 2020 to 5.08% in
September 2020. This was attributed to declines
in education; transport; and alcoholic beverages
and tobacco, among others.
Blended monthly inflation decelerated into
negative territory, to -0.47% in September 2020,
down from 1.41% recorded in August 2020.
Figure 14 shows month-on-month inflation
developments for the period from July 2019 to
September 2020.


5The Zimbabwe National Statistical Agency (ZIMSTAT)
commenced publication of the blended CPI inflation in June
2020. The blended CPI inflation combines the average changes
Figure 14: Month-on-Month Inflation (%)

Source: ZIMSTAT, 2020

NATIONAL PAYMENTS SYSTEM

The total value of transactions processed
through the National Payment System increased
by 31.5% to ZW$299.09 billion in September
2020, from a total of ZW$227.51 billion
registered in August 2020. NPS transaction
volumes were 0.5% lower to close at 143.09
million transactions during the month under
review, from 143.83 million transactions
recorded in August 2020.
Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The RTGS system processed transactions worth
ZW$203.17 billion in September 2020, a 42%
increase from $143.04 billion in August 2020.
RTGS transactions volumes rose by 15.5% to
close at 911 912 transactions during the period
in price of goods and services sold in the two main currencies in
circulation, namely the ZW$ and the US$.

Jul-19
Aug-19
Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Food
Non-Food
Overall

under analysis, from 789 000 transactions in
August 2020.
Figure 15: ZETSS Volumes and Values

Source: Reserve Bank of Zimbabwe, 2020

Cash Transactions

Cash based transactions increased by 17%, from
ZW$6.24 billion during the previous month to
ZW$7.30 billion in September 2020.
Mobile and Internet Based Transactions

The value of Mobile and internet-based stood at
ZW$63.40 billion, during the month under
review, representing a 10.82% increase from
ZW$61.72 billion recorded in August 2020.
Card Based Transactions

Card-based transactions amounted to ZW$20.23
billion in September 2020, up from ZW$16.50
billion in the previous month.

RESERVE BANK OF ZIMBABWE


Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Value in ZW$ Billions
Volume in Thousands
Volume
Value

Statistical Tables

Monetary Statistics
1. Depository Corporations Survey

2. Central Bank Survey

3. Other Depository Corporations Survey

Other Depository Corporations

4.1 Assets

4.2 Liabilities

Commercial Banks
5.1 Assets

5.2 Liabilities

Building Societies
6.1 Assets

6.2 Liabilities

Sectoral Analysis of Bank Loans and Advances and Deposits

7.1 Sectoral Analysis of Commercial Banks Loans and Advances

7.2 Sectoral Analysis of Commercial Banks Deposits

Interest Rates

8.1 Lending Rates

8.2 Banks Deposit Rates

Inflation

9.1 Monthly Inflation

9.2 Yearly Inflation

External Statistics

10. Total External Debt Outstanding by Debtor

11. Exchange Rates

12. Zimbabwe Stock Market Statistics

13. National Payments System Statistics


13.1 Values of Transactions

13.2 Volumes of Transactions

14. Merchandise Trade Statistics

Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Net Foreign Assets

Central Bank(net)

Foreign Assets

Foreign Liabilities

Other Depository Corporations(net)

Foreign Assets

Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Claims on Central Government(net)

Claims on Central Government

Central Bank

ODCs

Less Liabilities to Central Government

Central Bank

ODCs

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Central Bank

ODCs

Other Items(Net)
-35,602,189.94 -43,161,718.12 -43,143,999.17
-47,860,547.38
-49,592,865.53 -49,769,854.91 -78,762,163.43 -108,457,657.69 -117,412,003.72 -283,986,230.81 -381,705,468.53 -407,214,233.87 -407,712,767.45
Shares and Other Equity

Liabilities to Other Financial Corporations

Restricted Deposits

Deposits and Securities Excluded from Base Money

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in Broad Money

Broad Money-M2

Other Deposits

Narrow Money-M1

Transferable Deposits

Of which Foreign Currency Accounts

Currency Outside Depository Corporations

Memorandum Items
Reserve Money

FCAs as a Percentage of Deposits in M3

End Period Exchange Rate

Source: Reserve Bank of Zimbabwe,2020
Notes:
(i) Depository corporations survey - formerly Monetary Survey.
(ii) Broad money redefined using IMF's Monetary and Financial Statistics Manual of 2000. Major changes include exclusion of Government deposits held by banks from broad money.
(iii) Transferable deposits made up of demand and savings deposits.
(iv) NCDs are also referred to as securities included in broad money.
(v) All classes of time deposits, short and long term are classified as time deposits, which are also termed other deposits.
(vi) Credit to the private sector now excludes claims on other financial corporations, as well as claims on state and local government (local authorities)
(vii) Depository corporations made up of the Central Bank and other depository corporations
(viii) Other depository corporations (ODCs) - Commercial banks, merchant banks, building societies and POSB.
(ix) In December 2017, the statistics were adjusted in restrospect by reclassifying Securities issued under Aftrades from claims on government to claims on central bank
(x) In December 2017, the statistics were adjusted in restrospect by reclassifying amounts accessed by banks under the Aftrades from liabilities to Other Depository corporations and Other Financial Corporations to liabilities to Central Bank
(xi) In December 2018, statistics were revised from November 2017 due to reclassification of lines of credit (foreign liabilities) that were initially classified as deposits included in broad money
(xii) All monetary and financial statistics are valued in ZWL$ since the introduction of the interbank foreign exchange market in February 2019
TABLE 1: DEPOSITORY CORPORATIONS S

Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Net Foreign Assets
-39,349,960.03 -46,395,160.21 -48,267,748.85 -50,285,843.15 -51,596,769.75 -51,659,786.89 -78,356,892.58 -104,544,431.97 -114,377,001.26 -275,623,563.54 -366,357,650.73 -391,303,802.50 -386,104,783.47
Claims on Non Residents

Official Reserves Assets

Other Foreign Assets

Less Liabilities to Non Residents

Short Term Liabilities

Other Foreign Liabilities*

of which blocked funds

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Of which: Securities Other than Shares

of which USD Securities revaluations (Excha

Loans

Loans and Advances

Legacy Debt

Export Incentives

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on Other Depository Corporations

Of which: Loans

Other Liabilities to ODCs

Of which: Aftrades Balances

Securities

Other Items(Net)
-37,210,035.04 -43,812,534.88 -46,414,639.90 -54,669,718.18 -57,145,180.31 -58,322,160.20 -86,517,998.56 -114,986,959.06 -125,482,666.85 -295,508,852.17 -397,084,920.55 -427,953,446.54 -425,725,999.11
Shares and Other Equity

Other Items(Net)

Liabilities to Other Resident Sectors

Deposits and Securities Excluded from Base Money

Monetary Base Incl. foreign currency clearing balances
Monetary Base

Bond Coins

Bond Notes

Liabilities to ODCs

Reserve Deposits

Exess reserves

Private Deposits

Source: Reserve Bank of Zimbabwe,2020
NB: * Other Foreign Liabilities include blocked funds amounting to USD2.2 billion assumed by the Central Bank on behalf of Government.
TABLE 2: CENTRAL BANK SURVEY ($'000)

TABLE 3 : OTHER DEPOSITORY CORPORATIONS SURVEY ( $ '000)
Sep-19
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Net Foreign Assets

Claims on Non Residents

Of Which: Foreign Currency

Deposits

Other

Less Liabilities to Non Residents

Of Which: Deposits

Loans

Other

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Securities

Loans

Other
-
-
-

-

-

-

-

-

-

-

-

-

-

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on the Central Bank

Currency

Reserves

Securities

Other Claims

Liabilities to the Central Bank

Other Items(Net)

Shares and Other Equity

Liabilities to other ressident sectors

Other Items(Net)

Deposits and Securities Included in Broad Money

Deposits Included in Broad Money
22,546,030.38

27,593,648.82

29,819,025.32

32,968,794.78

34,202,472.63

36,052,337.44

45,274,086.77

49,685,009.94

57,713,065.69

97,187,347.86

127,237,814.07

140,284,498.63

147,593,137.33

Transferable Deposits
20,883,074.13

25,739,354.63

27,983,294.46

31,080,869.95

32,175,873.35

33,858,024.37

42,922,095.92

47,162,154.77

54,870,283.47

93,169,652.47

121,190,660.19

134,852,887.37

140,657,703.75

of which FCAs
9,859,484.27

11,155,597.09

11,472,035.58

11,938,732.84

12,458,349.93

12,476,934.91

20,909,726.92

19,463,088.16

24,984,322.48

57,701,775.14

79,076,606.18

82,607,196.16

88,430,395.05

Other Deposits

Money Market Instruments
219,889.50

205,671.08

235,117.26

243,976.57

255,563.69

260,055.92

476,793.67

337,556.97

359,194.93

863,206.40

1,024,311.11

1,111,664.44

1,083,907.10

Source:Reserve Bank of Zimbabwe,2020

Foreign
TOTAL
End of
Notes
Bond
&
Balances
Balances with
Balances
Other Claims
Local
Other
Notes &
Coin
with
Other Depository
with
on
Government1
Governemt
Other2
Government
Local
Public
Institutional
Other cliams
Contigent Assets
Other Assets
Non Financial
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities
Government
Enterprises
Units
Assets

Jan
23.4

66.9

2,528.5

291.2

111.9


Feb
20.0

46.8

2,516.8

347.6

114.2


Mar
16.7

57.9

2,457.7

312.8

139.2


Apr
14.9

61.9

2,423.5

337.0

120.8


May
14.2

71.7

2,543.0

477.8

138.6


Jun
9.0

58.5

3,081.0

509.8

120.0


Jul
20.6

61.9

3,450.6

466.4

111.6


Aug
23.1

72.3

3,475.7

377.8

105.3


Sep
18.2

61.5

3,781.6

398.1

159.1


Oct
39.9

70.4

3,771.3

368.3

185.5


Nov
30.6

84.6

3,696.3

300.6

209.8


Dec
20.5

94.5

3,949.5

439.6

235.5


Jan
49.0

113.4

3,901.0

401.9

261.6


Feb
59.7

256.8

3,764.8

357.1

570.4


Mar
62.5

263.2

3,891.0

432.9

739.3


Apr
45.2

363.5

4,153.9

578.9

1,031.9


May
98.7

484.2

4,089.2

694.1

1,890.1


Jun
126.3

882.2

4,518.6

560.2

2,383.0


Jul
232.4

968.8

5,605.6

370.4

3,738.0


Aug
184.4

1,150.4

7,956.5

527.8

3,904.2


Sep
124.5

2,108.5

9,128.1

874.0

5,678.3


Oct
144.3

1,906.0

11,613.0

2,511.0

7,644.9


Nov
128.8

2,243.1

11,417.7

2,236.3

8,417.4


Dec
169.8

2,526.2

13,994.1

1,254.7

8,415.7


Jan
183.4

3,176.6

13,217.3

1,073.2

8,142.0


Feb
267.1

3,136.4

13,817.0

1,504.5

8,642.5


Mar
263.6

3,607.6

16,167.1

2,214.4

12,681.9


Apr
298.5

3,642.9

17,926.4

1,523.3

13,697.1


May
330.0

3,581.8

21,376.4

1,749.6

15,757.4


Jun
606.6

9,584.7

29,457.9

3,974.7

35,786.5


Jul
690.8

18,357.0

54,139.7

5,578.7

42,159.7


Aug
975.1

28,776.0

54,868.5

4,623.1

41,100.2


Sep
1,084.2

30,217.6

56,679.6

4,426.6

39,530.8


Source:Reserve Bank of Zimbabwe,2020
Notes
1.Government securities includes treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations.
Public
Enterprises
TABLE 4.1: OTHER DEPOSITORY CORPORATIONS -ASSETS
$ millions
Debt Securities
Loans and Advances

Debt Securities Foreign Liabilities
Capital
Contigent
Other
TOTAL
and
Liablities
Liablities
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Source:Reserve Bank of Zimbabwe,2020
TABLE 4.2 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES
Deposits
Amounts Owing to
$ millions

TOTAL
End of
Foreign
Bond
Notes
Balances
Balances with
Balances
Other Claims
Local
Public
Other
Contigent
Non Financial
Notes &
&
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Government
Government
Enterprises
Institutional Units3
Other claims
Assets
Other Assets
Assets
Coins
Coin
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
22.40

64.10

2,294.49

192.08

103.42

81.91

2,143.23

-

23.45

65.90

26.32

20.59

154.85

2,451.11

28.68

500.96

294.22

538.92

9,006.6

Feb
18.34

43.97

2,296.76

223.72

108.28

96.17

2,109.34

-

23.45

66.10

24.29

21.11

145.03

2,461.49

28.67

507.82

290.62

536.35

9,001.5

Mar
14.81

53.62

2,238.77

240.67

124.48

99.51

2,164.00

-

23.45

66.69

19.16

15.90

127.10

2,535.82

30.40

504.13

325.78

552.34

9,136.6

Apr
13.47

56.67

2,207.91

274.97

116.75

78.50

2,314.90

-

24.75

66.97

13.44

20.89

120.77

2,519.81

28.31

531.98

298.96

554.95

9,244.0

May
12.85

62.77

2,308.95

339.50

130.13

85.74

2,562.36

-

24.97

66.94

8.44

20.88

134.01

2,556.25

23.90

458.93

307.90

555.31

9,659.8

June
7.48

52.61

2,848.51

331.76

117.26

84.05

2,538.32

-

26.19

66.55

7.44

19.43

196.00

2,662.21

25.46

551.39

302.93

563.41

10,401.0

July
17.85

54.25

3,189.62

281.13

109.31

95.43

2,949.15

-

-

67.49

4.51

21.01

181.99

2,414.59

26.03

611.36

322.53

565.15

10,911.4

Aug
21.01

67.83

3,196.71

232.34

102.46

66.26

3,014.90

-

-

67.29

7.05

20.62

186.74

2,490.99

29.82

647.67

329.42

566.33

11,047.4

Sep
16.25

58.19

3,487.91

305.30

137.84

78.01

2,789.78

-

45.21

68.09

5.42

20.39

212.17

2,577.06

36.68

637.41

357.43

571.83

11,405.0

Oct
33.06

67.98

3,505.83

272.14

173.15

51.45

2,728.83

-

45.21

68.41

4.59

9.35

188.83

2,697.37

38.71

647.52

353.24

569.20

11,454.9

Nov
25.84

81.42

3,384.38

264.64

198.18

63.91

2,793.90

-

45.21

68.65

6.99

8.13

217.69

2,672.32

46.06

633.21

406.55

569.81

11,486.9

Dec
18.17

89.91

3,736.98

317.34

224.44

74.84

2,633.69

-

43.37

69.16

6.20

9.18

204.31

2,707.60

53.75

573.76

406.16

633.85

11,802.7

Jan
42.05

106.91

3,766.70

338.09

249.77

46.14

2,621.20

-

61.02

68.66

4.41

8.06

189.15

2,594.53

33.84

517.24

428.82

649.94

11,726.5

Feb
52.63

238.67

3,601.94

293.36

549.59

205.65

2,675.29

-

60.52

2.00

5.84

7.71

208.31

2,784.17

31.04

490.74

472.78

696.82

12,377.1

Mar
59.17

244.62

3,729.81

393.22

712.08

55.05

2,635.68

-

61.52

4.53

4.27

9.53

340.66

2,660.90

25.33

523.72

755.57

971.53

13,187.2

Apr
40.82

331.97

3,876.83

492.10

981.80

91.75

2,590.97

-

61.79

3.95

3.98

9.62

407.85

2,721.57

24.55

620.52

935.27

1,002.47

14,197.8

May
94.59

444.70

3,886.07

571.50

1,747.69

154.08

2,508.43

-

62.12

4.20

3.93

9.43

636.78

3,056.86

34.46

910.14

1,832.95

1,142.77

17,100.7

Jun
119.69

810.71

4,104.17

413.18

2,244.98

538.88

2,596.97

-

63.09

6.62

3.89

8.73

929.36

3,667.45

37.02

1,606.53

1,374.23

1,621.33

20,146.8

Jul
224.75

791.31

5,081.19

275.44

3,602.89

801.93

2,640.55

-

103.36

5.49

2.18

9.00

164.58

4,043.75

32.65

1,587.68

1,873.44

1,722.66

22,962.9

Aug
178.74

1,054.06

7,123.10

461.83

3,778.75

1,050.74

3,106.90

-

103.86

6.78

1.04

9.21

212.50

4,430.78

37.42

2,614.64

1,744.16

1,989.27

27,903.8

Sep
108.51

1,915.41

8,246.09

676.17

5,563.16

1,575.75

3,240.85

-

26.96

6.47

1.37

9.40

187.53

4,993.71

42.30

3,707.80

3,074.10

2,440.63

35,816.2

Oct
138.01

1,702.35

10,537.81

2,437.08

7,376.80

906.98

3,416.23

-

27.05

5.29

1.15

7.94

254.84

5,859.32

41.94

4,081.09

1,658.19

2,434.21

40,886.3

Nov
113.92

2,078.54

10,430.55

2,073.35

7,977.27

940.70

3,737.72

-

27.15

11.83

1.37

8.74

248.79

7,670.96

42.07

3,148.28

1,627.27

3,059.40

43,197.9

Dec
158.44

2,300.01

12,821.54

934.73

7,898.48

1,984.08

3,716.31

-

24.75

20.65

1.33

8.11

268.61

8,976.00

61.84

4,867.67

2,740.16

6,935.56

53,718.3

Jan
165.80

2,845.62

12,018.43

708.00

7,706.57

1,811.38

4,029.43

-

125.52

14.97

5.11

12.17

326.11

10,766.91

77.59

2,965.93

3,395.90

8,058.15

55,033.6

Feb
251.70

2,756.57

12,731.97

889.16

8,264.76

1,532.87

3,877.19

-

117.45

13.99

5.15

11.56

329.47

11,656.91

88.37

5,441.70

11,907.90

8,653.69

68,530.4

Mar
242.41

3,063.92

14,545.58

1,948.14

12,381.17

2,497.47

4,373.76

-

0.08

20.23

4.39

11.39

765.82

14,041.67

127.46

7,917.31

5,718.53

9,244.62

76,904.0

Apr
263.29

3,147.75

16,673.44

1,287.51

13,285.14

3,056.32

4,235.96

-

0.08

18.39

4.47

9.75

834.72

14,864.30

129.90

7,642.80

6,534.14

9,703.93

81,691.9

May
284.33

3,144.57

19,827.46

1,553.68

15,003.29

3,130.38

4,160.50

-

0.12

45.79

4.53

9.61

768.01

17,762.27

143.44

7,042.04

6,012.40

9,845.09

88,737.5

Jun
515.11

8,372.39

26,368.55

3,570.85

34,550.44

7,527.46

5,841.98

-

0.12

90.14

4.29

9.41

2,010.79

26,638.87

215.56

24,299.33

14,590.26

18,983.05

173,588.6

Jul
577.99

16,536.53

49,470.13

4,219.81

40,259.84

11,399.93

6,357.84

-

-

74.57

4.33

12.61

1,025.78

33,054.99

229.06

28,551.07

10,247.64

19,646.49

221,668.6

Aug
821.16

26,519.73

49,165.59

4,265.44

38,763.72

14,219.24

6,484.68

-

-

39.07

14.05

14.74

1,046.29

38,741.31

231.00

25,354.64

9,460.49

19,961.16

235,102.3

Sep
891.26

27,646.41

51,169.67

3,898.65

38,420.20

14,126.83

6,354.19

-

-

107.40

9.61

22.30

1,050.38

41,088.91

228.95

28,289.36

17,608.70

19,375.08

250,287.9

Source:Reserve Bank of Zimbabwe,2020
Notes
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations,
TABLE 5.1: COMMERCIAL BANKS -ASSETS
$ millions
Debt Securities
Loans and Advances

ZWL$ millions
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
Debt Securities
Foreign Liabilities
RBZ
Other Depository Other Finacial
Capital
Contigent
Other
from the public
Corporations
Corporations
Corporations
and
Liablities
Liablities
TOTAL
Reserves

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Source:Reserve Bank of Zimbabwe,2020
TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

Foreign
Other Assets
Non Financial
TOTAL
End of
Notes
Assets
Bond
&
Balances
Balances with
Balances
Other Claims
Notes &
Coin
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Mortgages
Government
Other
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
0.9

2.3

197.4

98.7

7.8

-

129.8

34.5

-

-

413.2

-

508.7

144.9

136.1

1,674.3

Feb
1.5

1.8

172.4

123.5

5.5

-

141.3

33.5

-

-

414.8

-

507.9

125.7

135.7

1,663.6

Mar
1.4

3.4

175.9

72.1

14.1

-

212.6

32.8

-

-

411.4

-

539.4

142.8

132.3

1,738.2

Apr
1.1

4.3

185.5

61.9

3.6

-

184.4

32.0

-

-

413.3

-

582.7

141.6

135.2

1,745.7

May
1.0

7.6

196.3

138.2

8.1

-

191.0

30.9

-

-

415.0

-

608.4

128.1

137.4

1,862.0

June
1.2

4.9

188.6

177.8

1.9

-

266.2

30.1

-

-

413.9

-

614.3

124.0

141.5

1,964.5

July
1.8

6.6

207.1

185.1

1.7

-

283.2

33.3

-

-

423.5

-

636.1

128.2

141.1

2,047.7

Aug
1.6

3.7

224.7

145.3

2.4

-

288.9

32.2

-

-

428.2

-

579.4

139.1

143.7

1,989.2

Sep
1.9

2.9

245.6

92.6

20.8

-

291.1

31.2

-

-

430.3

-

650.2

148.1

144.4

2,059.1

Oct
4.9

2.1

220.0

95.8

11.9

-

318.9

30.2

-

-

427.7

-

639.8

154.2

147.0

2,052.5

Nov
3.6

2.9

243.3

35.7

10.4

-

320.7

28.9

-

-

433.5

-

635.7

148.0

145.8

2,008.5

Dec
2.3

4.3

157.4

121.3

10.4

-

339.4

28.0

-

-

444.8

-

645.9

179.7

151.9

2,085.6

Jan
6.3

4.6
108.2

63.5
10.9

0.0
343.8

27.3
33.6

0.0
438.0

0.0
649.3

136.7
151.2

1973.3
Feb
5.4

17.6
120.6

62.8
18.1

-

339.6

26.5
-

-

416.1

-

696.1

171.1
156.7

2,030.8

Mar
2.6

18.0
126.3

38.6
23.9

-

331.7

25.5
-

-

415.1

-

710.1

172.1
207.4

2,071.2

Apr
3.7

30.6
220.3

85.0
47.6

-

271.6

25.0
-

-

414.1

-

705.0

169.0
276.2

2,247.8

May
3.9

38.4
162.2

115.4
139.0

-

345.5

23.9
-

-

406.2

-

776.6

165.7
363.4

2,540.1

Jun
6.3

69.8
361.6

144.5
132.4

-

265.8

22.6
-

-

421.7

-

873.6

210.5
473.0

2,981.8

Jul
6.5

174.7
473.9

89.7
131.1

-

258.3

22.2
-

-

416.0

-

934.6

203.1
565.6

3,275.8

Aug
5.5

94.5
758.0

60.6
115.5

-

247.4

21.5
-

-

418.1

-

970.6

345.1
567.6

3,604.2

Sep
15.8

180.3
831.8

195.4
104.2

-

267.6

20.9
-

-

499.1

-

1,137.6

528.8
1,042.2

4,823.6

Oct
6.2

198.7
997.2

72.2
243.7

-

268.8

20.2
-

-

429.8

-

1,286.7

503.4
1,069.3

5,096.2

Nov
11.9

156.1
872.3

159.7
426.0

-

338.6

19.6
-

-

443.5

-

1,357.4

575.8
1,068.7

5,429.6

Dec
9.2

223.9
1,016.9

317.4
492.3

-

308.3

18.2
-

-

454.5

-

1,413.5

700.6
1,470.0

6,424.9

Jan
16.3

322.3
1,106.8

361.8
421.8

-

283.0

20.1
-

-

478.2

-

1,498.8

717.5
1,552.8

6,779.5

Feb
14.5

368.2
977.2

612.5
370.5

-

357.1

20.1
-

1.5

503.6

-

2,097.7

735.9
1,538.8

7,597.4

Mar
20.1

529.4
1,423.7

261.8
282.6

-

341.6

19.2
-

0.6

526.4

-

2,406.4

1165.6
1,914.1

8,891.5

Apr
33.1

493.1
914.2

232.1
384.9

-

424.3

18.1
-

-

525.9

-

2,568.2

1528.5
2,134.4

9,256.8

May
39.7

434.7
1,248.4

192.3
725.0

-

382.4

17.0
-

-

517.6

-

2,793.4

2669.6
2,146.1

11,166.3

Jun
88.7

1167.9
2,857.8

395.9
1,222.0

-

385.4

13.8
-

-

653.4

-

4,663.9

2688.0
4,712.1

18,848.8

Jul
109.1

1780.7
3,878.9

1342.9
1,879.4

-

346.6

13.4
-

-

585.7

-

5,648.0

3879.5
4,927.7

24,391.8

Aug
142.9

2175.5
4,799.3

341.7
2,310.6

-

294.6

13.1
-

-

688.7

-

6,552.1

4480.3
6,104.6

27,903.4

Sep
179.8

2469.9
4,547.1

504.6
1,027.7

-

218.3

12.9
-

0.4

741.5

-

6,518.3

2774.9
6,503.8

25,499.1

Source:Reserve Bank of Zimbabwe,2020
Notes
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations,
TABLE 6.1: BUILDING SOCIETIES -ASSETS
$ millions
Debt Securities
Loans and Advances

Debt Securities
Foreign Liabilities
Capital
Other
TOTAL
and
Liablities
End of
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Source:Reserve Bank of Zimbabwe,2020
Amounts Owing to
TABLE 6.2: BUILDING SOCIETIES -LIABILITIES
$ millions

AGRICULTURE
CONSTRUCTION
COMMUNICATION
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
END OF


INVESTMENTS
ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Source:Reserve Bank of Zimbabwe,2020
/1 Including the only merchant bank still in operation.
TABLE 7.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES
$ ('000)

END OF
AGRICULTURE
CONSTRUCTION
COMMUNICATIONS
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
INVESTMENTS
ORGANISATIONS
1,000.0

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Source: Reserve Bank of Zimbabwe,2020
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
$ ('000)

End of
Nominal
Lending
Rates 1
Individuals
Corporate

Jan
4.45-18.00
9.33
6.99
Feb
4.45-18.00
9.57
6.93
Mar
4.45-18.00
9.64
6.98
Apr
4.00-18.00
9.32
7.08
May
4.00-18.00
9.28
7.09
Jun
4.00-18.00
9.32
7.14
Jul
4.00-18.00
9.75
6.97
Aug
4.00-18.00
9.87
7.10
Sep
4.00-18.00
9.56
7.11
Oct
4.00-18.00
9.47
7.38
Nov
4.00-18.00
9.49
7.38
Dec
4.00-18.00
9.48
7.39

Jan
4.00-18.00
9.47
7.40
Feb
4.00-18.00
9.23
7.30
Mar
4.00-18.00
9.23
7.31
Apr
4.00-18.00
9.30
7.38
May
4.00-22.00
9.31
7.33
Jun
4.00-22.00
9.15
7.67
Jul
4.00-35.00
9.54
8.40
Aug
5.00-55.00
14.37
18.43
Sep
5.00-65.00
14.64
19.81
Oct
5.00-65.00
15.59
19.66
Nov
5.00-65.00
15.06
18.00
Dec
5.00-65.00
16.08
18.31

Jan
5.00-65.00
16.56
17.20
Feb
5.00-65.00
16.92
16.68
Mar
5.00-65.00
19.65
17.21
Apr
5.00-65.00
18.57
18.69
May
5.00-65.00
18.06
18.07
June
5.00-65.00
20.04
17.38
July
5.00-65.00
18.87
20.11
Aug
6.00-65.00
19.14
18.99
Sep
6.00-65.00
20.65
25.09
Source:Reserve Bank of Zimbabwe, 2020
Notes
TABLE 8.1: LENDING RATES (percent per annum)
1. Nominal lending rates depict the range of rates quoted by banks.
Commercial Banks
Weighted Lending Rates

TABLE 8.2 : BANK DEPOSIT RATES (percent per annum)
END OF
SAVINGS
3 MONTHS

Jan
0.22-12.00
0.75-8.00
Feb
0.22-12.00
0.75-8.00
Mar
0.22-12.00
0.75-8.00
Apr
0.22-12.00
0.75-8.00
May
0.22-12.00
0.75-8.00
Jun
0.22-12.00
0.75-8.00
Jul
0.22-12.00
0.75-8.00
Aug
0.22-12.00
0.75-8.00
Sep
0.22-12.00
0.75-8.00
Oct
0.22-12.00
0.75-8.00
Nov
0.22-12.00
1.00-8.00
Dec
0.22-12.00
1.00-6.75

Jan
0.22-12.00
1.00-8.00
Feb
0.22-12.00
1.00-6.75
Mar
0.22-12.00
1.00-8.00
Apr
0.22-12.00
1.00-8.00
May
0.22-12.00
1.00-8.00
Jun
0.22-12.00
1.00-8.00
Jul
0.22-12.00
1.00-8.00
Aug
0.22-12.00
1.00-8.00
Sep
0.22-12.00
1.00-8.00
Oct
0.22-12.00
1.00-8.00
Nov
0.22-12.00
1.00-8.00
Dec
0.22-12.00
1.00-8.00

Jan
0.22-12.00
1.00-8.00
Feb
0.22-12.00
1.00-8.00
Mar
0.22-12.00
1.00-8.00
Apr
0.22-12.00
1.00-8.00
May
0.22-12.00
1.00-8.00
Jun
0.22-12.00
1.00-8.00
Jul
0.22-12.00
1.33-14.00
Aug
0.50-15.00
1.00-20.28
Sep
0.50-15.00
1.00-20.28
Source:Reserve Bank of Zimbabwe, 2020
* Deposit rates depict the range of rates qouted by banks.
**Banks have adjusted their costs of holding deposits following the
call by the RBZ to reduce lending rates.
COMMERCIAL BANKS

ALCOHOLIC
BEVERAGES
CLOTHING &
HOUSING,
WATER,
FURNITURE
HEALTH
TRANSPORT
COMMUNICA
TION
RECREATION &
EDUCATION
RESTAURA
NTS &
MISC.
TOTAL NON
& TOBACCO
FOOTWEAR
ELECTRICTY,
GAS
AND
CULTURE
HOTELS
GOODS &
FOOD
& OTHER
EQUIPMENT
SERVICES
FUELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Source:Zimstat, 2020
FOOD & NON
ALCOHOLIC
BEVERAGES
ALL
ITEMS
TABLE 9.1 : MONTHLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
(February 2019 = 100)

F OOD
IN F LA TION
A LC OHOLIC
C LOTHIN G
HOUS IN G,
WA TER ,
F UR N ITUR E
M IS C .
F OOD &
B EVER A GES
&
ELEC TR IC TY,
GA S
A N D
R EC R EA TION
&
R ES TA UR A N TS
&
GOOD S &
TOTA L N ON
N ON
A LC OHOLIC
A LL
& TOB A C C O
F OOTWEA R
& OTHER
EQUIP M EN T
C ULTUR E
HOTELS
S ER VIC ES
F OOD
B EVER A GES
ITEM S
F UELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun


Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Source:Zimstat, 2020
TABLE 9.2 : YEARLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
(February 2019 = 100)
N ON -F OOD IN F LA TION
HEA LTH
TR A N S P OR T
C OM M UN IC A TION
ED UC A TION

(US$ MILLIONS)
End Period

Est
Long-Term External Debt

Government

Bilateral Creditors

Multilateral Creditors

Private Creditors

Public Enterprises


Bilateral Creditors

1,155

Multilateral Creditors

Private Creditors

Monetary Authorities

Multilateral Creditors - IMF

Private


Short-Term External Debt
1,348
2,040
1,286


Supplier's Credits

Reserve Bank

1,300

2,463
Private


Total External Debt

Source: Ministry of Finance & Economic Development, 2019; & Reserve Bank of Zimbabwe, 2020
TABLE 10: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS)

USA
SOUTH ARFICAN
BOTSWANA
JAPANESE
EURO
POUND
END OF
Dollar
RAND
PULA
YEN
STERLING

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Source: Reserve Bank of Zimbabwe, 2020
TABLE 11 : SELECTED INTERNATIONAL EXCHANGE RATES

Market Capitalisation
END OF
All Share*
ZWL$ millions

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June*

Aug

Sep

Source:Zimbabwe Stock Exchange, 2020
*All Share index was introduced in January, 2018
**As at 26 June 2020
TABLE 12: ZIMBABWE STOCK MARKET STATISTICS
Industrial
Market Turnover
ZWL$ million
Volume of Shares
Mining
Indices

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE

INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan
6,903.0
2.9 1,294.05
16.9 3,608.83 1,056.16
Feb
8,337.0
4.0 1,330.58
17.2 3,594.51 1,093.64
Mar
9,881.5
3.9 1,399.50
18.3 4,080.65 1,250.55
Apr
10,321.4
3.1 1,590.10
14.0 4,949.34 1,408.53
May
14,670.3
4.2 1,397.48
11.8 6,692.55 1,897.82
Jun
17,881.2
3.7 1,464.66
30.1 7,130.02 2,539.84
Jul
23,309.9
3.7 1,806.45
36.6 9,137.36 3,295.81
Aug
23,596.6
2.4 2,181.56
38.5 11,077.65 3,493.56
Sep
30,328.1
3.8 3,029.87
51.9 15,112.00 5,337.71
Oct
39,413.7
3.9 3,621.64
67.1 16,588.28 6,237.03
Nov
40,871.8
3.5 4,199.30
67.4 13,537.77 7,200.30
Dec
49,579.8
2.8 5,695.39
97.2 19,356.74 8,724.02

Jan
47,841.3
1.8 5,236.3 115.2 21,247.9 9,646.8
Feb
41,637.6
4.7 5,431.8 136.9 22,589.7 9,633.8
Mar
60,804.1
4.1 7,252.9 268.0 27,993.6 14,411.4
Apr
47,525.5
0.0 4,150.6 82.6 18,299.2 11,481.8
May
59,271.1
0.0 7,426.0 349.8 24,851.5 19,593.2
Jun
91,311.3
0.0 9,752.7 516.6 26,042.5 25,842.3
Jul
127,743.2
0.0 14,741.1 1,028.7 26,033.3 35,199.7
Aug
143,042.1
0.0 14,953.6 1,547.5 27,217.6 34,505.0
Sep
203,172.0
0.8 18,252.3 1,963.0 26,441.0 41,958.4
Source:Reserve Bank of Zimbabwe, 2020
TABLE 13.1 : ZETSS AND RETAIL PAYMENTS
Values of Transactions (ZWL$ millions)

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Annual Total
6,404.4
234.6 271,618.6 3,410.1 1,670,402.1
5,857.13

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct
1,079.4
12.7 23,191.6 65.0 206,621.5
1,099.3
Nov
982.1
10.3 25,737.5 225.2 152,919.9
2,044.1
Dec
1,003.8
7.6 27,800.5 385.5 146,316.6
1,273.6

Jan
943.3 4.6 23,649.0 199.9 139,278.2 671.7
Feb
916.1 8.9 21,652.2 196.6 149,671.5 647.8
Mar
1,068.5 7.4 22,588.1 234.3 173,042.2 661.2
Apr
515.1
- 11,036.4 36.4 131,190.0 998.0
May
674.1
- 14,711.6 231.2 150,936.1 705.3
Jun
907.8
- 14,420.9 286.1 135,524.3 1,390.4
Jul
918.4
- 15,786.5 251.4 121,072.4 791.9
Aug
789.4
- 13,536.2 248.2 127,308.6 702.1
Sep
911.9 0.002 15,524.1 309.8 125,059.2 783.2
Source:Reserve Bank of Zimbabwe, 2020
TABLE 13.2 : ZETSS AND RETAIL PAYMENTS
Volumes of Transactions (ZWL$ 000's)

END OF
EXPORTS
IMPORTS
TOTAL TRADE
TRADE BALANCE

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Source: ZIMSTAT, 2020
TABLE 14 : MERCHANDISE TRADE STATISTICS
(US$ millions)